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Business Segmentation and Geographical Distribution | 12 Months Ended
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Dec. 30, 2017
Intangible Assets Details |
Business Segmentation and Geographical Distribution | Since the year ended December 31, 2016, the Company has made operational changes to merge its scientific and regulatory consulting segment into core standards and contract services segment. Additionally, with the acquisition of Healthspan in March 2017, the Company began selling consumer products that contain the Company's branded NIAGEN® ingredient. The Company made operational changes and began segregating its financial results for consumer products operations. As a result, the Company has the following three reportable segments:
● | Ingredients segment develops and commercializes proprietary-based ingredient technologies and supplies these ingredients to consumers in finished products or as raw materials to the manufacturers of consumer products in various industries including the nutritional supplement, food and beverage and animal health industries.
● | Consumer products segment provides directly to consumers as well as to distributors finished dietary supplement products that contain the Company's proprietary ingredients.
● | Core standards and contract services segment includes (i) supply of phytochemical reference standards, (ii) scientific and regulatory consulting and (iii) other research and development services.
On September 5, 2017, the Company completed the sale of the Lab Business which was a part of the core standards and contract services segment. The discontinued operations related to the Lab Business are not included in following statement of operations for business segments. The “Corporate and other” classification includes corporate items not allocated by the Company to each reportable segment. Further, there are no intersegment sales that require elimination. The Company evaluates performance and allocates resources based on reviewing gross margin by reportable segment.
Year ended |  |  |  |  |  |  |  |  |  |  |  |
December 30, 2017 |  | Ingredients |  |  | Consumer Products |  |  | Core Standards and Contract Services |  |  | Corporate |  |  |  |
|  | segment |  |  | segment |  |  | segment |  |  | and other |  |  | Total |
Net sales |  | $ | 11,153,371 |  |  | $ | 5,464,843 |  |  | $ | 4,583,268 |  |  | $ | - |  |  | $ | 21,201,482 |
Cost of sales |  |  | 5,491,920 |  |  |  | 2,189,597 |  |  |  | 3,042,660 |  |  |  | - |  |  |  | 10,724,177 |
Gross profit |  |  | 5,661,451 |  |  |  | 3,275,246 |  |  |  | 1,540,608 |  |  |  | - |  |  |  | 10,477,305 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | 1,280,004 |  |  |  | 2,672,810 |  |  |  | 506,410 |  |  |  | - |  |  |  | 4,459,224 |
Research and development |  |  | 2,903,249 |  |  |  | 1,104,132 |  |  |  |  |  |  |  |  |  |  |  | 4,007,381 |
General and administrative |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 17,641,889 |  |  |  | 17,641,889 |
Other |  |  | 745,773 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 745,773 |
Operating expenses |  |  | 4,929,026 |  |  |  | 3,776,942 |  |  |  | 506,410 |  |  |  | 17,641,889 |  |  |  | 26,854,267 |
Operating income (loss) |  | $ | 732,425 |  |  | $ | (501,696 | ) |  | $ | 1,034,198 |  |  | $ | (17,641,889 | ) |  | $ | (16,376,962 | )
Year ended |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2016 |  | Ingredients |  |  | Consumer Products |  |  | Core Standards and Contract Services |  |  | Corporate |  |  |  |
|  | segment |  |  | segment |  |  | segment |  |  | and other |  |  | Total |
Net sales |  | $ | 16,774,641 |  |  | $ | - |  |  | $ | 4,890,007 |  |  | $ | - |  |  | $ | 21,664,648 |
Cost of sales |  |  | 7,920,516 |  |  |  | - |  |  |  | 3,353,598 |  |  |  | - |  |  |  | 11,274,114 |
Gross profit |  |  | 8,854,125 |  |  |  | - |  |  |  | 1,536,409 |  |  |  | - |  |  |  | 10,390,534 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | 1,196,711 |  |  |  | - |  |  |  | 361,502 |  |  |  | - |  |  |  | 1,558,213 |
Research and development |  |  | 2,487,978 |  |  |  | - |  |  |  | 34,790 |  |  |  | - |  |  |  | 2,522,768 |
General and administrative |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9,214,763 |  |  |  | 9,214,763 |
Operating expenses |  |  | 3,684,689 |  |  |  | - |  |  |  | 396,292 |  |  |  | 9,214,763 |  |  |  | 13,295,744 |
Operating income (loss) |  | $ | 5,169,436 |  |  | $ | - |  |  | $ | 1,140,117 |  |  | $ | (9,214,763 | ) |  | $ | (2,905,210 | )
Year ended |  |  |  |  |  |  |  |  |  |  |  |
January 2, 2016 |  | Ingredients |  |  | Consumer Products |  |  | Core Standards and Contract Services |  |  | Corporate |  |  |  |
|  | segment |  |  | segment |  |  | segment |  |  | and other |  |  | Total |
Net sales |  | $ | 12,542,314 |  |  | $ | - |  |  | $ | 5,342,572 |  |  | $ | - |  |  | $ | 17,884,886 |
Cost of sales |  |  | 6,664,164 |  |  |  | - |  |  |  | 3,686,117 |  |  |  | - |  |  |  | 10,350,281 |
Gross profit |  |  | 5,878,150 |  |  |  | - |  |  |  | 1,656,455 |  |  |  | - |  |  |  | 7,534,605 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | 1,111,993 |  |  |  | - |  |  |  | 395,875 |  |  |  | - |  |  |  | 1,507,868 |
Research and development |  |  | 891,601 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 891,601 |
General and administrative |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7,201,231 |  |  |  | 7,201,231 |
Operating expenses |  |  | 2,003,594 |  |  |  | - |  |  |  | 395,875 |  |  |  | 7,201,231 |  |  |  | 9,600,700 |
Operating income (loss) |  | $ | 3,874,556 |  |  | $ | - |  |  | $ | 1,260,580 |  |  | $ | (7,201,231 | ) |  | $ | (2,066,095 | )
At December 30, 2017 |  | Ingredients |  |  | Consumer Products |  |  | Core Standards and Contract Services |  |  | Corporate |  |  |  |
|  | segment |  |  | segment |  |  | segment |  |  | and other |  |  | Total |
Total assets |  | $ | 9,742,400 |  |  | $ | 3,398,800 |  |  | $ | 2,558,801 |  |  | $ | 47,023,599 |  |  | $ | 62,723,600 |
At December 31, 2016 |  | Ingredients |  |  | Consumer Products |  |  | Core Standards and Contract Services |  |  | Corporate |  |  |  |
|  | segment |  |  | segment |  |  | segment |  |  | and other |  |  | Total |
Total assets |  | $ | 13,257,289 |  |  | $ | - |  |  | $ | 2,547,427 |  |  | $ | 3,947,352 |  |  | $ | 19,752,068 |
Revenues from international sources for the ingredients segment approximated $0.4 million, $0.5 million and $0.3 million for the years ended December 30, 2017, December 31, 2016 and January 2, 2016, respectively. Revenues from international sources for the consumer products segment approximated $4.2 million for the year ended December 30, 2017. Revenues from international sources for the core standards and contract services segment from continuing operations approximated $1.0 million, $1.6 million and $1.8 million for the years ended December 30, 2017, December 31, 2016 and January 2, 2016, respectively. International sources which the Company generates revenue from include Europe, North America, South America, Asia, and Oceania. The Company’s long-lived assets are located within the United States. Disclosure of major customers Major customers who accounted for more than 10% of the Company’s total sales from continuing operations were as follows:
| Years Ended
Major Customers |  | 2017 |  |  | 2016 |  |  | 2015 |
Customer G - Related Party |  |  | 19.4 | % |  |  | * |  |  |  | * |
Customer D |  |  | 10.2 | % |  |  | 11.0 | % |  |  | * |
Customer C (1) |  |  | * |  |  |  | 23.9 | % |  |  | * |
Customer B |  |  | * |  |  |  | * |  |  |  | 13.6 | %
* Represents less than 10%. |  |  |  |  |  |  |  |  |  |  |  |
(1) There is ongoing litigation with Customer C |  |  |  |  |  |  |  |  |  |  |  |
Major customers who accounted for more than 10% of the Company’s total trade receivables were as follows:
| Percentage of the Company's Total Trade Receivables
Major Customers |  | At December 30, 2017 |  |  | At December 31, 2016 |
Customer G - Related Party |  |  | 18.1 | % |  |  | * |
Customer D |  |  | 13.4 | % |  |  | 10.2 | %
Customer C (1) |  |  | 41.8 | % |  |  | 45.8 | %
* Represents less than 10%. |  |  |  |  |  |  |  |
(1) There is ongoing litigation with Customer C |  |  |  |  |  |  |  |
Disclosure of major vendors Major vendors who accounted for more than 10% of the Company's total accounts payable were as follows:
| Percentage of the Company's Total Accounts Payable
Major Vendors |  | At December 30, 2017 |  |  | At December 31, 2016 |
Vendor A |  |  | * |  |  |  | 39.5 | %
Vendor B |  |  | * |  |  |  | 20.8 | %
Vendor C |  |  | 14.5 | % |  |  | * |
Vendor D |  |  | 10.4 | % |  |  | * |
Vendor E |  |  | 10.3 | % |  |  | * |
* Represents less than 10%. |  |  |  |  |  |  |  |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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